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Category Archive for 'The New Depression'

What is the big fucking deal? People are poor now, more people than ever. Yes, they have jobs — shitty jobs. Most likely, more than one job, which might make it look better than it is. People are killing themselves, running just to stay afloat. Do they want medals? Fuck these cheerleaders, the people in […]

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The missing piece that economist and former White House advisor Jared Bernstein knows and is too nice to say, is that the Powers That Be set out to deliberately suppress wages, to the point where hiring an engineer in America won’t cost any more than hiring one in Pakistan. But I’m not that nice, so […]

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Thanks, austerity hawks! The Census Bureau’s latest headline numbers on income, poverty and health insurance received wide coverage: The poverty rate fell in 2013 while real (inflation-adjusted) median household income was little changed and the share of Americans without health insurance coverage fell. Here’s a look behind the headlines, courtesy of my Center on Budget […]

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Whenever you leave Republicans in charge of anything, we’re sure to pay for it: The picture painted by a report from the Center for American Progress released Wednesday is a gloomy one. For a typical married couple with two children, the combined cost of health care, day care, housing and savings for college and retirement […]

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Gee, even the New York Times gets it.

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Is this a secret? This so-called “recovery” is fake, just like extend-and-pretend policies Obama approved for the banks. If the banks had been held accountable and cleaned up, we’d have a real recovery by now: Think your money’s not going very far this year? It’s not your imagination. According to new research by the Economic […]

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I was telling Swamp Rabbit about my Labor Day Weekend trip to Atlantic City, where three casinos are closing and more than 5,700 casino workers are being laid off over the next two weeks. “Closed” stickers were slapped onto the Showboat’s front doors by security personnel at 3 p.m. yesterday. Just like that, 2,100 people […]

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Oh look

Helicopter Ben says the Big Shitpile crash was even worse than the Great Depression.

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Bad policy

And how it’s making the recession damage permanent. Still, some countries have managed to avoid, or at least start to climb out of, this “lowflationary” trap. Australia, for example, defines “price stability”more liberally than other countries—2 to 3 percent averaged over the business cycle—and that’s helped it keep rates and inflation from falling too far to begin […]

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One of my friends just sent me this piece from Politico written by Nick Hanauer, a .01%er, “to my fellow zillionaires”: But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. […]

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